China’s ICBC Leasing places order for 50 Airbus A320 Family aircraft

Emerging lessor enhances portfolio with eco-efficient Airbus aircraft

ICBC Financial Leasing Co. Ltd. (ICBC Leasing), has signed an agreement with Airbus for a total of 50 A320 Family aircraft, including 30 A320ceo and 20 A320neo.

The aircraft purchase agreement was signed at the Great Hall of the People in Beijing by Li Xiaopeng, Senior Executive Vice President of ICBC and Chairman of ICBC Leasing, and Fabrice Bregier, President and CEO of Airbus. It was a part of a series of Europe-China agreements signed in the presence of visiting German Chancellor Angela Merkel and Chinese Premier Wen Jiabao.

“We decided to order more Airbus A320 Family aircraft, not only A320ceo but also A320neo, to enhance our portfolio in anticipation of increasing demand of the aviation markets in China, Asia Pacific region and the world as well. The order indicates that leasing companies are playing a more important role in the aviation sector,” said Li Xiaopeng, Senior Executive Vice President of ICBC and Chairman of ICBC Leasing.

“We are delighted to see ICBC Leasing placing another order for the world’s best selling single-aisle aircraft. In particular, the order for 20 A320neo makes ICBC Leasing the first Chinese customer for the fastest selling aircraft, which offers a 15 per cent fuel burn reduction. We are proud to support the growth of Chinese leasing companies with our eco-efficient aircraft,” added Fabrice Bregier, Airbus President and CEO.

By the end of July 2012, there were over 700 A320 Family aircraft in operation with 15 Chinese airlines.

As of today, more than 8,500 Airbus A320 Family aircraft have been sold and more than 5,100 delivered to over 365 customers and operators worldwide, making it the world’s best selling commercial jetliner ever. With proven reliability and extended servicing periods, the A320 Family has the lowest operating costs of any single-aisle aircraft. The A320neo is a new engine option for the A320 Family entering into service from 2015 and incorporates latest generation engines and large "Sharklet" wing tip devices, which together will deliver 15 percent in fuel savings. The A320neo has over 95 percent airframe commonality making it an easy fit into existing fleets while offering up to 500 nautical miles (950 kilometres) more range or two tonnes more payload at a given range.